皇冠体育app

US, 皇冠体育app launching strategic dialogue in Beijing
(chinadaily.com.cn)
Updated: 2005-08-01 14:42

Mr. Zoellick, who attended a regional security conference in Vientiane, Laos, last week, said in weekend a stopover in Hong Kong that he would discuss foreign policy and economics with senior Chinese officials during his Beijing visit.

"I hope we'll enable the U.S. and 皇冠体育app to get a better sense of where there are points of mutuality, which I believe to be many, to work co-operatively, and also where we have differences how best to manage them," the Associated Press quoted him as saying then.

Speaking to reporters in Hong Kong Saturday, Mr. Zoellick said he would try to focus during the dialogue on the bigger picture of the relationship.

"We'll try to step back from the individual items on the agenda and see how we can integrate the topics," according to a transcript of his comments on a State Department information Web site, usinfo.state.gov.

Concerning economic cooperation, Mr. Zoellick is expected to confer with senior officials of 皇冠体育app's National Development and Reform Commission, a super-ministry in charge of coordinating economic policy and guiding investment and energy policy, Reuters reported.

Earlier this month, 皇冠体育app helped ease frictions between the two powers by decoupling its currency, the yuan, from the U.S. dollar.

The Bush administration had been pressing Beijing to revalue the yuan, formerly pegged at about 8.28 to the dollar, arguing that the peg system was giving Chinese exporters huge trade advantages.

皇冠体育app now sets the yuan's value in reference to a basket of major world currencies, and it is now worth about 8.1 to the dollar.

The Associated Press quoted some news reports as saying that 皇冠体育app鈥檚 central bank had briefed American officials in advance of its plan to drop yuan's link to the dollar two weeks ago, which was believed as an indication of an attempt by Beijing to solicit support from Washington.

U.S. legislators have been worried about a bid by CNOOC for California-based Unocal Corp, which they claim presents risks to American security.

Meanwhile, a growing list of American giant corporations have acquired major assets in 皇冠体育app. In June, the Bank of America (BoA) bought a 9 per cent stake of the 皇冠体育app鈥檚 Construction Bank, with a bill of US$3 billion, making the US bank the largest single foreign investor in 皇冠体育app's banking sector so far.

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